PMEX Continues on its Growth Path in First Half of FY19
Pakistan Mercantile Exchange Limited (PMEX), the country’s only multi-commodity futures exchange, reported record financial performance for the first half of FY19 since commencement of operations in 2007.
The Exchange earned profit after tax of PKR 38.817 million for the first half of FY19 as compared to PKR 12.342 million for the corresponding period of FY18, posting an increase of 214.5 percent. The operating income of the Exchange grew to PKR 171.391 million from PKR 118.732 million during the period under review, posting an increase of 44.35 percent.
The increased profitability can primarily be attributed to growth in trading volume, which grew to PKR 1,577.09 billion in the first half of current financial year from PKR 639.46 billion for the same period last year, posting an increase of 146.63 percent. The exponential growth in trading volume was the accumulative result of expansion of product suite, induction of new members and liquidity providers and introduction of world renowned trading terminal – MetaTrader 5.
Commenting on the financial performance, Mr. Ejaz Ali Shah, Managing Director PMEX, said, “We are delighted to report an outstanding performance in the first half of FY19. The results indicate that the positive trend from FY18 is continuing. We have become more focused and committed to creating a robust, transparent and efficient futures market in the country by capitalizing on our outreach, diversifying product suite and providing a state-of-the-art technology platform. We are thankful to Securities & Exchange Commission of Pakistan (SECP) and Board of Directors of PMEX for their support and guidance.”